Wow. After denying US players an online version of one of the slots world’s most-beloved franchises, namely, Cleopatra Slots, IGT has teamed up with MGM to provide not just an online version but a MOBILE online version. And if that wasn’t enough, it’s designed from the ground up to work with the #1 most-hyped mobile phone of the last decade.

Of course we’re talking about the iPhone (but also the iPad, the iPod Touch, and anything else that might handle Apps). But there’s two little caveats to keep in mind. One, it’s a “non-wager” version, which means that there’s really not much return for the Free Spin + Multiplier payouts that keep people coming back to Cleopatra, Cleopatra II, et cetera.

And two, this is very specifically reserved for the MGM’s “M Life Players Club” members. We’re not saying that the membership isn’t a good thing, by any means. We’ve spent many happy hours (day?) at various MGM resorts. We’re just saying that you’ll have to sign up if you want to take Cleopatra home with you…

UPDATE: our resident iGuru has checked into the matter and maintains that Cleopatra has been available (without an M Life membership) on the iPhone for a year or so already. Has the iWool been pulled over our iEyes? Hopefully one of our many iReaders will help us settle the iMatter…